Calls and Puts Trade MU – Call and Put Strangles Long Term Trade
Shares of Micron Technologies (MU) are down .21 to 15.54 today.? MU is near the bottom of the 52 week range.
- Paper traded 13000 MU Apr 15 puts and 16 calls for 1.97 and 2.08.??
- The ADV is 121k contracts.??
- The OI is less than 1000 contracts.
The volume went up in 2 blocks marked straddle.? 182k shares trade tied to stock near the same time as the short straddle went up.? The straddle for that size is slightly short delta so the stock trade creates a delta neutral short strangle.? In this case the trade as printed looks like a bet on a drop in IV with not much of a range for MU.
- IV 30 is trading for 62%.
- HV10 is trading for 44%.
- IV 30 is above the HV 10.
Micron Technology, Inc. is a global provider of semiconductor devices.